The lawsuit contended that among defined contribution plans with more than $1 billion in assets, the average plan has costs equal to 0.33% of assets per year; in 2013, total fees for the Fujitsu plan amounted to approximately 0.88% of plan assets.
The American Retirement Association says that by lowering small business income tax rates to 27% but not applying that to taxes on 401(k) withdrawals for small business owners from the 35% individual tax rate, this creates a disincentive for small business owners to contribute to their retirement plan, or even offer one to their employees.
Based on Great-West’s investigation and the work of FBI agents, it appears that unauthorized individuals have been fraudulently obtaining access to funds held in a small number of retirement accounts.
Cerulli even expects environmental, social and governance investing to become "the baseline of how portfolios are constructed."
INSIDE THE MAGAZINE PLANSPONSOR October 2017
AndCo Consulting adds three to Pittsburgh consulting team; Franklin Templeton hires head of client investment solutions; Millennium acquires Inspira and ABG; and more.
The consultancy issued a white paper redefined DC plan-related terminology.
The agency began issuing these lists when it ended the determination letter program for individually designed retirement plans.
The DOL fiduciary rule, though not yet fully implemented, is providing a tailwind for this trend, Cerull Associates says.
However, around one-third say employer-provided benefits will be most important to them within the next 10 years.
State Street launches tool to deliver transparency in ESG investing; Vanguard releases latest fund to complement existing index and ETF offering; and Hartford Funds presents first NextShares fund.
Only 36% have budgeted to make monthly contributions to their health care savings, and 32% have savings goals to cover long-term health care costs.
A Lincoln Financial Group study revealed little participation rates in governmental defined contribution plans, compared to 401(k) and 403(b) plans.
The complaint seeks to state a claim—without relying on hindsight—by arguing the underperformance of a large cap fund was “virtually guaranteed because it contained a serious design flaw from inception.”
This is setting their retirement savings back, with many investing in cash.
In addition, a survey finds, some Baby Boomers delayed retirement because they were facing significant health care costs.